Question & AnswerQ&A (CDA)
The guidelines are adopted pursuant to Section 3(m) of Republic Act No. 6939 and in accordance with Article 18 of the Cooperative Code of the Philippines.
Amendments require a two-thirds (2/3) vote of all members with voting rights.
Dissenting members have the right to withdraw their membership under Articles 31 and 32 of the Cooperative Code.
The cooperative must submit: (a) Four copies of the resolution of the general assembly approved by two-thirds (2/3) of all voting members; (b) Four copies of the amended articles or by-laws with amendments clearly indicated; and (c) The applicable registration fee.
The resolution must be certified under oath by the cooperative's secretary and a majority of the board of directors.
Amendments should be indicated by underscoring or any other means with the provisions to be changed enclosed in parentheses or brackets.
Amendments take effect upon approval by the Cooperative Development Authority or within thirty (30) days from the date of filing if not acted upon by the Authority for reasons not attributable to the cooperative.
The Authority evaluates the amendments considering the Cooperative Code and other relevant laws, may hold hearings or take testimonies, and decides on the approval of the amendments.
No, amendments are not valid prior to their approval by the Authority.
The guidelines apply to all types and categories of cooperatives registered under the Cooperative Code, but for cooperative banks, amendments must first be presented to the Central Bank.